Financial Stewardship
Videos of Interest
Understanding Non-Profit Financial Statements
Everyone who is involved in the leadership of non-profit organizations needs to have some understanding of the financial statements of their organization. Here is an introduction to unraveling these statements.
Statement of Financial Position
Understanding the Statement of Financial Position or as some of us know it as the balance sheet.
Statement of Activities
For-Profit organizations have another important financial report that is often referred to as the P&L for Profit and Loss Statement. For Not-For-Profit organizations that would be a misnomer. So, we replace that title by calling a similar report for not–for–profit organizations as the Statement of Activities report that shows your organization’s revenue and expenses over time, ultimately allowing you to categorize your nonprofit’s revenue and expenses.
A Sad Tale of Financial Malfeasances
This is a cautionary story of how a short-term shortcut can turn into a long-term problem. Experience tells me that good people don’t set out to do wrong but occasionally get caught up in what becomes a big problem.
What does 501(c)3 mean?
Answers to questions about those mysterious 501(c)3 and 501(c)4 designations.
Financial Controls
As a board of directors member, you are a fiduciary, responsible to other people for the care of their money. Here are some easy-to-do ways to responsibly carry out your fiduciary responsibilities.
Budgeting
Financial Stewardship starts with creating a budget.